The global Covid-19 pandemic has impacted every section of society, be it individual or businesses. It would be best to consider that this figure might change next year. Small and medium-sized enterprises are implementing such services to swiftly expand their geographical footprints by setting up a centralized communication platform, which can utilize advanced technologies like 4G and VoIP. The global video conferencing market size is expected to reach USD 32.02 Billion in 2028 and register a revenue CAGR of 19.5% over the forecast period, according to the latest report by Reports and Data. Conducting contractual enterprises in a worldwide setting is a significant aspect that is predicted to propel the global expansion of the video conferencing market. The growth of the market is attributed to the developments and advancement in technology. With the sudden increase in video conference meetings, several video conferencing companies, such as Google LLC, Microsoft Corporation & Zoom Video Communications Inc., have introduced technologically advanced cloud-based videoconferencing solutions to create an enhanced application for users. The Video Conferencing Software Market is predicted to witness high growth during the coronavirus outbreak. Real-time visual conferences among one or more users are referred to as video conferencing engagements. Video Conferencing research study defines market size of various segments & countries by historical years and forecast the values for next 10 years. The global video conferencing market size was estimated at USD 6.85 billion in 2021 and is projected to be worth around USD 18.56 billion in 2030, with a registered CAGR of 11.71% during the projected timeframe 2022 to 2030. 2016 - 2019, Video Conferencing Market Size | Global Industry Report, 2021 - 2028, Our sales & analyst support team is available to help you 24x5, Interactive Patient Care Market Share, Size, Trends, Industry Analysis Report, 2022 - 2030, Financial Planning Software Market Share, Size, Trends, Industry Analysis Report, 2022 - 2030, Drone Software Market Share, Size, Trends, Industry Analysis Report, 2022 - 2030, Wearable Technology Market Share, Size, Trends, Industry Analysis Report, 2022 - 2030, Crime Risk Report Market Share, Size, Trends, Industry Analysis Report, 2022 - 2030, Europe (Germany, UK, France, Italy, Spain, Netherlands, Austria), Asia Pacific (China, India, Japan, South Korea, Indonesia, Malaysia), Latin America (Brazil, Mexico, Argentina), Middle East & Africa (Saudi Arabia, South Africa, Israel, UAE). Press release - Stratagem Market Insights - Video Conferencing Rentals Market Analysis by Size, Demand, Future Trends, Challenges, Growth Opportunities and Forecast by 2029 - published on openPR.com However, several companies have adopted the work from home culture that created the need for a better medium for communication that further positively impacted the demand for video conferencing solutions. & Smart Technologies, Conferences & Next story Cloud Encryption Market Size Estimated to Reach USD 4.61 Billion at CAGR of 22.9%, By 2026; Previous story Global SEO (Search Engine Optimization) Market Size Expected to Reach USD 122.11 Billion at a CAGR of 9.6% in 2028 Moreover, Asia Pacific is expected to observe a high CAGR in the global market in 2020. Kindly, let us know if you are interested, Component, Deployment, Application, Conference Type, Enterprises Size, Geography. Malaysia has a market share of 74% for Google Meet, followed by Taiwan with 61% and the Phillippines also at 61%. Which are the driving factors of the video conferencing market? The remotely working culture during the pandemic has surged the demand for video conferencing solutions and is estimated to continue this trend during the forecast period. The global video conferencing market size is projected to reach USD 10.92 billion by 2027, exhibiting a CAGR of 9.7% during the forecast period. The Video Conferencing market size is estimated to grow from USD XX Billion in 2020 to USD XX Billion by 2027, growing at a CAGR of 15.55% during the forecast year from 2021 to 2027. Thus these objects promote the adoption of multifunctional workplaces as well.The rise in popularity of online and net banking between clients is expected to fuel the expansion of video conferencing industry trends. Video Conferencing research study defines market size of various segments & countries by historical years and forecast the values for next 10 years. The most important features consist of co-host offerings for managing Breakout Rooms, spotlighting & multi-pinning video feeds, the capability to utilize slides as a virtual background, High-Fidelity Music Mode, etc. During the projected period (2021-2030), the worldwide video conferencing market share is estimated to expand at a CAGR of 15.45%. Companies and organisations are implementing video collaboration technologies in order to try and make quicker and more efficient decisions and avoid the large expenditures of travel. Video Conferencing Market Size To Touch US$ 18.56 Billion By 2030 roshan salunke 17 November Follow The global video conferencing market size was estimated at USD 6.85 billion in 2021 and is predicted to touch around USD 18.56 billion by 2030 with a CAGR of 11.71% from 2022 to 2030. 244 Fifth Avenue, Suite 1407 New York, N.Y. 10001 United States (U.S), Global Video Conferencing Market size to reach USD 21.8 Billion by 2027, Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling, Competitive Landscape, Component, Deployment Type, Application, Industry Vertical, Region, US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, The rising adoption of cloud-based solutions among companies, Increasing concerns regarding privacy and security. Chapter 7 Video Conferencing Market Application Outlook. Global Cloud Video Conferencing Market Report 2022 comes with the extensive industry analysis with development components, patterns, flows and sizes. The Asia Pacific region is expected to grow at a rapid pace. The software segment is expected to witness highest growth at a CAGR of over 13.5% from 2022 to 2030. Under this partnership, Pexip could natively integrate with Logitech's new generation capabilities of video conferencing solutions to deliver a constant end-to-end customer experience from anywhere. Global Market Insights The global video conferencing market was valued at USD 3 billion in 2019 and is anticipated to reach USD 7 billion by 2026, expanding at a CAGR of 10% during the forecast period, 2020 - 2026. Who are the major players operating in the video conferencing market? Access to only 1 person; cannot be shared; cannot be printed, Access for 2 to 5 users only within same department of one company, Access to a company wide audience; includes subsidiary companies or other companies within a group of companies, We use cookies to enhance user experience, Industry The growing focus of many healthcare companies on the policy of medical training to their employees is using these solutions, which further accelerate the segment growth. The obvious next step in the video conferencing business is clinics adopting video conferencing for post-discharge programmes. Looking for The global video conferencing market size was reached at USD 6.85 billion in 2021 and is anticipated to rake around USD 18.56 billion in 2030. Additionally, countries such as the U.S and Canada are further estimated to register the largest number of initiatives, and partnership agreements will prolong unified communication (UC) solutions and video conferencing collaboration portfolio to streamline businesses of several sizes across these countries. Feb-2020: Logitech formed a partnership with Crestron, a global leader in workplace technology. Global Cloud Video Conferencing Market Size was estimated at USD 7062.1 million in 2021 and is projected to reach USD 14662.05 million by 2028, exhibiting a CAGR of 10.82% during the forecast period. by year 2026 at a CAGR of 9.22% during the forecast period. Further, the continual growth in the frequency of geographically dispersed teams has promoted the massive utilization of cloud-based platforms to streamline business processes, enhance productivity, and manage projects of all extents, accelerating market growth. Adoption of remote working policies by organizations across the world due to the COVID-19 pandemic is a key factor driving market revenue growth. This practice has drastically cut corporate travel expenditures while increasing company levels of productivity. needs. As per Amazon Web Services, Inc., small and medium companies will boost their cloud operations in India in 2022. Jan-2020: Microsoft came into partnership with Genesys, a company that sells customer experience and call centre technology to mid-sized and large businesses. Avaya. Adobe Systems Inc., Cisco Systems Inc., Google Inc., BlueJeans Network, Huawei Technologies Co., MediaPlatform, Zoom Video Communication Inc. and Microsoft Corporation are some of the key industry players. Know more about this report:request for sample pages. " According to the research report published by Polaris Market Research, the Global Video Conferencing Market Size Is Expected To Reach USD 32.70 Billion By 2028, at a CAGR of 19.8% during the forecast period. expert team of researchers can create market The U.S. video conferencing is projected to witness 19% CAGR up to 2027 on the back of the adoption of technologically advanced cloud-based solutions across Microsoft Corporation, Google LLC and Zoom Video Communications Inc. Owing to the introduction of touch screen control and faster processing chipset, the desktop video conferencing is gaining more customer interest and is likely to grow at 27% CAGR through 2027. Trends such as the increasing transition towards cloud and. Polys latest range of video conferencing systems includes Poly Studio X50, Poly Studio X30, and Poly G7500 that support StarLeaf software virtually out of the box, enabling users to implement Poly room systems with the full StarLeaf experience. . Meetings are an essential part of achieving efficient management. Based on Deployment Type, the market is segmented into On-Premise and Cloud. Methodology. In the near future, market development is likely to be driven by the inclusion of established technology regarding internet of things (IoT), Artificial Intelligence (AI) and cloud technology. Video Conferencing Market size exceeded USD 15 billion in 2020 and is projected to expand at around 23% CAGR from 2021 to 2027. Cameras and microphones/headphones are two subcategories of hardware segment. At present, there are many organizations in the IT and telecom industry that has formed long-term agreements with service providers, like Cisco Systems, and Logitech S.A., which would further bolster the segment growth. This partnership enabled Lumen to provide Zoom as part of its Unified Communications and Collaboration Suite. Europe: 22,695 million USD (2030 value); CAGR: 10.9% The market economy is projected to be driven by consumers' high coverage of high-speed internet access. The schemes offered are focused on increasing accessibility & affordability of the Internet & related services, thus fast-tracking digital transformation. Jul-2020: Zoom launched a new product, Zoom For Home. This collaboration aims to provide video conference solutions from Zoom Video Communications on its digital signage & interactive displays. The Video Conferencing Market was valued at US$ 464.7 Mn in 2019 and is projected to reach US$ 1577.6 Mn by 2027; it is expected to grow at a CAGR of 16.9% from 2020 to 2027. Based on Industry Vertical, the market is segmented into BFSI, IT & Telecom, Healthcare, Retail & eCommerce, Government & Defense, Education, Media & Entertainment and Others. The Corporate Communications market dominated the Global Video Conferencing Market by Application 2020, growing at a CAGR of 15.5 % during the forecast period. With the rapid shift in preference for video conferencing interviews in the recruitment process, video conferencing technology has become a viable option to strengthen its brand by hiring candidates with exceptional professional skills. The substantial growth can be ascribed to the increasing adoption of cloud technologies and Video Conferencing as a Service (VCaaS). USA: +1-302-846-7766 What is the Growth Rate of the Video Conferencing Market? Get more details on this report - Request Free Sample PDF. There are many companies that have increasingly implemented video conferencing solutions for connecting & better communicating with their employees and to carry out business operations more effectively and efficiently during the ongoing pandemic. The growing number of technology and service-based start-ups in emerging nations like India and China is anticipated to bolster the regional market growth. Kindly, let us know if you are interested), No cookie-cutter, only authentic analysis take the 1st step to become an Precedence Research client. Component (Hardware, Software, Services), Type, Application and Region, Growing demand for unified communication in the U.S. and Europe, Increasing trend of work from home and online learning globally, Demand for high-speed communication infrastructure in Asia Pacific, Increasing trend for cloud applications in Latin America, Rising need to reduce communication cost among organizations. Reports, Sustainable & Smart Conferencing is also helping organizations to find and analyze better content of meeting at a faster pace and with more ease and effectiveness by modernizing and simplifying the business process. With sudden shutdown of offices, several Small Medium Enterprises (SMEs) have shifted to video conferencing solutions to organize virtual meetings for business continuity. The global video conferencing market share is expected to grow at a CAGR of 15.45% during the forecast period 2021-2030. . Video Conferencing Market Size Hit USD 45.91 Billion in 2030 | Reports and Data Reports and Data September 28, 2022 Advancements in Internet technology globally and increasing adoption of video conferencing in enterprises to support offshore operations are driving market revenue growth This product is the first hardware product, is focused on an increasing number of people whose remote work includes a significant amount of time spent on Zoom calls with clients, colleagues, and suppliers. Nov 22, 2022 - The global enterprise video conferencing market is estimated to garner a revenue of ~USD 20 Billion by the end of 2035 by growing at a CAGR of ~12% over the forecast period, i.e., 2023 - 2035. . The video conferencing market is expected to grow with a CAGR of 9.5% during the forecast period of 2019-2025. Through this latest Microsoft Teams features, customers could enjoy more connectivity, decreased meeting fatigue & better inclusive meetings, along with saving time. Inc. Vendors are creating new solutions to address the increased competition for video products and services in the BASF. The North America region accounted revenue share of around 40% in 2021. Video conferencing solutions are being adopted by businesses all over the world to enhance their client interaction, brand awareness, and marketing initiatives. More? The hardware segment acquired the highest market share in 2020, due to the advent of loT that enabled the swift incorporation of hardware with one other and into cloud-based software solutions. Further, this report also highlights smart strategy adopted by major players and also their market share. There were about 5.5 million small businesses in the UK at the start of 2021 and SMEs held more than 99% of the business population (5.6 million businesses). & Advanced Materials, Sustainable The rising adoption of cloud-based solutions among companies are driving the market in coming years, however, Increasing concerns regarding privacy and security have limited the growth of the market. The appearance of a substantial number of SMEs and a high number of locations of top global 1000 enterprises in the area suggests that the region has enormous market growth prospects. Order, Corporate Jun-2020: Microsoft teamed up with AVer Information, provider of video conferencing solutions. As a result, to which in January 2020, U.S.-based Lifesize, Inc. completed the partnership with Tech Data to offer video conferencing services in remote areas of New Zealand and South Korea more effectively, which is expected to bolster the market growth. The global video conferencing market size is projected to register a CAGR of 12.6% during the forecast period, reaching 19.1 Billion by 2027 from an estimated USD 10.6 billion in 2022. The above information has been provided for the following regions and countries: Get a report that explains COVID-19 impact on this market. What is the current size of video conferencing market? At present, there has been a swift increase in the number of online seminars, conferences and international workshops, which is estimated to further surge the demand for video conferencing solutions. The global video conferencing market was valued at USD 7.75 billion in 2020 and is expected to grow at a CAGR of 19.8% during the forecast period. Inc. 2022 All Rights Reserved. Market Size. Based on Component, the market is segmented into Hardware, Solution and Services. The global Video Conferencing Market, which was estimated at 8.2 (USD Billion) in 2019 and is anticipated to accrue earnings worth 23.5 (USD Billion) by 2026, is set to record a CAGR of nearly 20.1% over 2020-2026. The authors of the report have brought to light crucial growth factors, restraints, and trends of the Video Conferencing market. Asia Pacific video conferencing market size is expected to achieve 26% CAGR during the forecast timeframe, propelled by progressive government initiatives in the region. Jul-2020: Microsoft introduced a set of new features in Microsoft Teams. Oct-2020: Avaya teamed up with NVIDIA, an American multinational technology company. The global Video Conferencing market size is projected to reach multi million by 2028, in comparision to 2021, at unexpected CAGR during 2022-2028 (Ask for Sample Report). Perhaps we will see a new wave of restrictions in different areas of life. Globally, governments from the different geographic regions have enforced stringent lockdowns and social distancing policies to control or mitigate the spread of novel coronavirus, which are now widely acknowledged as the most effective way to combat the pandemic. Video conferencing is the method of communication that takes help of different kinds of telecommunication technologies with the real-time, two-way transmission of video & audio among people. Adobe Systems Incorporated., Atlassian Corporation Plc., Cisco Systems, Inc., Fuze, Inc., Huawei Technologies Co., Ltd., JOYCE CR, S.R.O., Logitech International S.A., LogMeIn, Inc., Microsoft Corporation, Orange Business Services, Polycom, Inc., Vidyo, Inc., Visual Systems Group, Inc. (VSGi), West Corporation, ZTE Corporation. Request a Sam. Significant growth is being driven by increased urbanisation, which is crucial for the usage of video conferencing. Citations, How To Through the omnichannel customer experience solution Genesys Engage operating on Microsoft Azure, companies would have the safety and scalability they want to tackle the complexities associated with connecting each touchpoint across the customer journey. What are the Major Companies Operating in the Video Conferencing Market? The global video conferencing market is expected to grow at a CAGR of 11.71% from 2022 to 2030. The growing demand for unified communication solutions has led the manufacturers towards the development of more advanced communication solutions. Because of the cost reductions, the expanding startup environment is rapidly using cloud-based video conferencing systems. For example, Cisco Systems, Inc. announced Webex Devices in December 2020, along with Webexs hub camera to improve the distant work experience. The major strategies followed by the market participants are Partnerships. the global video conferencing market analysis, 2020 market research report depicts a deep-dive market analysis of statistics of global video conferencing market which consists of region-wise market size, market forecast, cagr market segmentation, market share of various levels of components, deployment type, enterprise size, type, application, Due to increased globalization, corporations from many sectors aspire to run from several branches in different parts of the world in order to utilise the perks of local infrastructure, availability of knowledge, and cost savings in purchasing of materials. We offer executive-level blueprints of markets and solutions beyond flagship surveys. Companies Mentioned Adobe Inc. AURA Presence, LLC. The global video conferencing market size is segmented based on component, type, deployment, application, and region. The demand for video conferencing in the region is anticipated to increase over the forecast period, owing to the extensive usage of technologies, including cloud computing, IoT, and AI to effectively manage connected devices, coupled with the huge proliferation of 4G and 5G networks that present huge opportunities for the acceptance of the video conferencing. 4 North Main Street, Selbyville, Delaware 19975 USA Jan-2021: Zoom Video Communications introduced more than 400 features in 2020 to improve the customer experience. The global video conferencing market size is expected to reach USD 19.73 billion by 2030, registering a CAGR of 12.5% from 2022 to 2030, according to a new report by Grand View Research, Inc. Furthermore, the use of video conferencing, such as to conduct routine meetings, assign business deals, and hold job interviews of candidates, eventually paving the way for higher market growth during the forecast period. The increase is attributable to an increase in request for video infrastructure solutions for programmed operations in the academic and training sectors. In addition, more than 50 innovations introduced into three groups including effortless collaboration, intelligent customer experiences, and smart hybrid work experiences, everything based on the rock-solid safety and privacy synonymous with Cisco. This series is the professional-grade personal video conferencing tool developed to uplift the game of the remote worker. (TrueList) . Key Takeaways: The software segment is expected to witness highest growth at a CAGR of over 13.5% from 2022 to 2030. The collaboration helps BenQ to fulfil its commitment to meet prevailing and upcoming demands for corporate visual communication and video conferencing. (FnF Research, 2020) Video conferencing is part of the Communication Platform as a Service (CPAS) market, which is forecasted to reach $17.2 billion in 2023. & Transportation, Bulk The combination of video conferencing solutions with technologies such as artificial intelligence and the internet is expected to boost market growth, states Fortune Business Insights in its report . Corporations in the video conferencing industry see significant economic opportunities in healthcare industry. In addition, it also assists in minimizing the overall operational & management costs while boosting the productivity. Feb-2020: Logitech joined hands with Newline Interactive, a manufacturer of award-winning interactive displays, intuitive software, and other interactive innovations. May-2020: Huawei introduced its next-generation IdeaHub series intelligent endpoint for the all-scenario smart office ecosystem. This segment is witnessing an increasing adoption of these solutions due to the growing requirement for immediate medical assistance to patients who are located in remote locations. The hardware segment has shown the fastest CAGR at 14.82% and also dominates the 43.57% of the market. The global video conferencing market size is expected to reach USD 9.95 billion by 2028 with a CAGR of 11.4% over the forecast period. In 2020, the corporate sector accounted for over 60% of the UK video conferencing market share and will witness steady growth through 2027 impelled by the closure of offices globally. Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), The highest number of market tables and figures, Assured post sales research support with 10% customization free, Discounts Available for Start-Ups & Universities. The remotely working culture during the pandemic has surged the demand for video conferencing solutions and is estimated to continue this trend during the forecast period. Together, the companies would work on a new solution for better customer experiences in meeting rooms via video and audio. Thus, these factors are expected to contribute to the market growth fortune. The global video conferencing market size was accounted for USD 3.85 billion in 2019 It is anticipated to grow at a CAGR of 9.9% over the forecast period, 2020 to 2027. North America video conferencing market was valued at UD$ 2.57 billion in 2021. This launch aimed to connect remote workers, users and partners in the ongoing Covid-19 pandemic. These features include together mode, live reactions, video filters, touchless meeting experiences and many more. This acquisition would help Adobe with more efficiency, collaboration and productivity benefits to marketing teams that are challenged with siloes work management solutions. Jul-2020: Logitech teamed up with Shure, a global manufacturer of leading audio equipment. SAN FRANCISCO, June 20, 2022 /PRNewswire/ -- The global video conferencing market size is expected to reach USD 19.73 billion by 2030, registering a CAGR of 12.5% from 2022 to 2030, according to. Market size comparison for 2020 vs 2025, with actual data for 2019, estimates for 2019 . The Video Conferencing Market is expected USD 41.41 billion by 2029. AVer Video Collaboration Solutions for Microsoft would be a comprehensive line of AVer USB video conferencing products designed and certified with Microsoft Teams in mind. The cloud segment is projected to garner significant growth during the forecast period. & Medical Devices, Polymers The healthcare segment is anticipated to acquire major growth during the forecast period. Address: Apt 1408 1785 Riverside Drive Ottawa, ON, K1G 3T7, Canada, IND Address: 2nd Floor,Shreeleela Plaza, Baner Road, Pune, Maharashtra - 411045, Call: USA - +1 9197 992 333 | IND - +91 93077 85324, Copyright 2022, All rights reserved. Sustainable & Smart Technologies The video conferencing market analysis is provided for major regional market including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Nov-2020: Microsoft Teams launched a free day-long video and voice calling option on the platform. Nutrition & Animal Feed, HVAC Events, Media The global video conferencing market size is expected to reach $7.71 billion in 2022, increasing to $19.73 billion by 2030. Geographically, North America dominated the global market due to the robust growth and early adoption of advanced technologies and software associated with video conferencing in the region. " Global Cloud Video Conferencing Market Size was estimated at USD 7062.1 million in 2021 and is projected to reach USD 14662.05 million by 2028, exhibiting a CAGR of 10.82% during the forecast period. As a result, the pandemic leads to the cancellation of different corporate events, including trade shows, product launches, international seminars, investors presentations, and more. The major players operating in the video conferencing market are Adobe Systems Incorporated., Atlassian Corporation Plc., Cisco Systems, Inc., Fuze, Inc., Huawei Technologies Co., Ltd., JOYCE CR, S.R.O., Logitech International S.A., LogMeIn, Inc., Microsoft Corporation, Orange Business Services, Polycom, Inc., Vidyo, Inc., Visual Systems Group, Inc. (VSGi), West Corporation, ZTE Corporation. All rights reserved, Historical Data: Moreover, the technologies have helped companies to incorporate advanced features to their existing video conferencing products & solutions and provide an enhanced meeting experience to the end-users. The newly added Video Conferencing Market research report by Value Market Research disclose all the important information associated with the market such as value, growth factor, trends, market share, size, and challenges for the forecasted timeline 2020-2028. The video conferencing market is expected to witness sustained growth during the forecast period with increasing adoption of video conferencing services in the commercial sector. CHICAGO, Dec. 2, 2022 /PRNewswire/ -- The global Video Conferencing Market size is projected to register a CAGR of 12.6% during the forecast period, reaching USD 19.1 Billion by 2027 from an. Furthermore, the rising need for operational enterprise communication along with large-scale investment by several organizations for modernizing and simplifying communication networks is further expanding the implementation of video conferencing globally. Oct-2020: Cisco took over BabbleLabs, a software company. For each region, the market size for different segments has been covered under the scope of report. This is clear since the income of the healthcare end-use industry is expected to expand rapidly throughout the projected timeframe. This accelerating demand for cloud technology on the back of the digital age has insisted enterprises replace to deploy cloud-based solutions by replacing traditional systems of the business management process. Through this acquisition, Cisco would bring native noise removal capability to its whole Collaboration product line. This expansion aimed to enable Slack users to unlock all of the incredible power & video calling the quality of Amazons cloud infrastructure. Huawei Cloud Meeting helps in hosting a meeting of up to 1000 participants at the same time from any terminal or device. Aug-2020: Poly joined hands with RingCentral, a leading provider of global enterprise cloud communications, collaboration, and contact centre solutions. Global Market Insights Inc. Video Conferencing Market Size And Forecast Video Conferencing Market size was valued at USD 4.83 Billion in 2021 and is projected to reach USD 11.02 Billion by 2030, growing at a CAGR of 9.6% from 2022 to 2030. The market size of video conferencing is predicted to cross USD 75 billion in 2027 with around 23% CAGR between 2021 and 2027, says this GMI report. Cloud-based solutions provide more convenience to end-users by giving them easy access to the video conferencing platform via various channels like mobiles and laptops. Moreover, a significant increase in mobility needs of remote workforce and workers has been witnessed, which would further complement the market growth of this segment worldwide. Growth Drivers & Specialty Chemicals, Electronics Various kind of impositions like travel ban across the globe, nation-wide lockdown and temporary shutdown of manufacturing units have adversely affected many industries verticals. In corporate sector video conferencing has become indispensable as travels continue to be banned by countries . Due to competition for conference video endpoints, which are room-based equipment solutions deployed and installed in meeting spaces, the enterprise segment secured a sales portion of more than 86% in 2021. The market research report covers the analysis of key stake holders of the market. The Google Meet Series One room kits are developed for organizations, which have embraced the idea of having better flexible, distributed teams in the coronavirus pandemic. Under this collaboration, StarLeaf meetings are accessible on the latest video solutions by Plantronics. The services segment is anticipated to exhibit a substantial growth rate during the forecast period. The solutions allow users to download the application on multiple devices, such as smartphones, tablets & laptops, fueling the market revenue. The robust urbanization which is responsible for the use of video conferencing is driving factor growth. Major drivers for the market include the growing internet penetration to pave way in the digital world. Key companies profiled in the report include Microsoft Corporation, Cisco Systems, Inc., Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Adobe, Inc., Google, Inc., Amazon.com, Inc., Logitech International S.A., Avaya Holdings Corporation, Plantronics, Inc. (Polycom, Inc.), and Zoom Video Communications, Inc. Video Conferencing Market Related Reports: The video conferencing market size is projected to reach USD 21.8 billion by 2027. The major factors contributing to the growth are the emerging trend of remote working, geographically scattered business operations, and increased globalization. Dec-2020: Cisco introduced a wave of Webex innovation to assist companies to collaborate effortlessly and transform their employee & customer experiences. The report is assembled to comprise qualitative and quantitative elements of Video Conferencing industry including: market share, market size (value and volume 2017-2021, and forecast to 2030) that . Feb-2021: Poly launched the Poly Studio P Series. Tags: Video Conferencing Video Conferencing Industry Video Conferencing Market Video Conferencing Market size. Under this partnership, Google launched its new Google Meet Series One hardware. Conferencing enables business organizations to gain insights regarding the aspects, including the ideal meeting length, the optimal number of participants, and more. The latest report on Video Conferencing Market understands market size estimates, forecasts, market shares, competition analysis, along with industry trends of . The rising adoption of video conferencing solutions among various large enterprises to set up a communication channel among their employees resides in numerous locations is driving the large enterprises segment. The global Video Conferencing Endpoint market size is projected to reach multi million by 2028, in comparision to 2021, at unexpected CAGR during 2022-2028 (Ask for Sample Report). However, the increased preference for cloud technology is projected to impede segment development in the future years. The growing integration of technologies, such as Artificial Intelligence (AI), machine learning & the Internet of Things (IoT), in video conferencing products & solutions is propelling the industry growth. This partnership aims to provide a premier video conferencing, scheduling, room control, and management experience for rooms of any size. Presentation, Research For instance, in January 2021, a Memorandum of Understanding (MoU) was signed between India and Japan to promote the development of telecom security, 5G technologies, and submarine optical fiber cable systems. The rising demand for advanced video conferencing solutions is surging the growth of the market. The Global Video Conferencing Market size is expected to reach $21.8 billion by 2027, rising at a market growth of 16% CAGR during the forecast period. Given the rising product acceptance as a medium of communication and cooperation among employees, the development prospects for corporation video conferencing solutions were predicted to be stronger prior to the pandemic. There are some fields like online education and telemedicine that are strengthening their foot in emerging nations like India, the Philippines and Brazil, which are significantly propelling the demand for such solutions. APAC: +65-3129-7718 Some of the Major Players operating the global market include Amazon Web Services, Inc., AURA Presence, Avaya Inc., Barco NV, BlueJeans Network, Inc, Cisco Systems, Inc., Fuze, Inc., Google, Haivision, Inc., HighFive, Inc., Huawei Technologies Co. Ltd., Kaltura, Inc., Kollective Technology, Inc., Lifesize, Inc., Logitech International S.A., LogMeIn, Inc., Microsoft Corporation, Pexip, AS, Plantronics, Inc., Qumu Corporation, Sonic Foundry, Inc., StarLeaf Inc., Vidyo, Inc., and Zoom Video Communications, Inc. Revenue in USD billion and CAGR from 2021 to 2028, By Component, By Deployment, By Application, By End-Use, By Region, North America, Europe, Asia Pacific, Latin America, Middle East & Africa. Dec-2020: Adobe acquired Workfront, the leading work management platform for marketers. Additionally, the escalating demand for continuous access to high-quality visual meetings and the internet, coupled with the increasing popularity of Bring Your Own Device (BYOD) solution, is further expanding the market growth at a rapid pace considering the global scenario. Also, the rising demand for video based communication, virtual administrative management and cloud technology based collaboration tools are important drivers influencing market expansion in positive manner. The global video conferencing market size was valued at USD 6.28 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 12.5% from 2022 to 2030. Video conferencing uses telecommunication technologies that involve real-time and transmission of video & audio content. Global Video Conferencing Market Overview: Forecast CAGR (2022-2027): 8.20% Forecast Market Size (2027): 12,139.4 billion. The increasing usage of advanced digital solutions across the corporate sector will enhance the industry outlook. We offer report based on sub segments as well. What are the Main Data Pointers Covered in Video Conferencing Market Report? The coronavirus pandemic has exponentially driven the market demand in 2020 owing to lockdowns imposed by the regional governments, resulting in travel restrictions and shut down of offices, educational institutes & other public meeting places. CHICAGO, Dec. 2, 2022 /PRNewswire/ -- The global Video Conferencing Market size is projected to register a CAGR of 12.6% during the forecast period, reaching USD 19.1 Billion by 2027 from an . Aug-2020: Zoom Video Communications collaborated with BenQ, the internationally renowned innovator of visual display technology and digital lifestyle devices. On the flip side, the healthcare segment is expected to pave a high market share in terms of revenue by 2028. This agreement extends the relationship among the two companies, allowing Zoom to swiftly scale its service on the leading cloud, increasing the challenges brought by the COVID-19 pandemic, and provide reliable services & continuous innovation for its expanding base of corporate & individual users. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________, https://www.reportlinker.com/p06071890/?utm_source=GNW, Soccer-Keeper Roebuck secures valuable point for City in Manchester derby, Analysis-European food delivery shapes up with Getir's Gorillas buy, Feds Message That Rates Will Stay on Hold for Some Time Clashes With 2023 Rate-Cut Bets, Investors eye Portuguese golden visas as authorities ponder programme's end, One of the most frequently cited risks to stocks in 2023 is 'overstated'. Video call platforms market share 2021 vs 2022. Furthermore, rising demand for e-learning is expected to propel market expansion. The North America emerged as a leading region of the video conferencing market due to the presence of well-established businesses & high technology adoption in this region. Almost 300 participants can be added for 24 hours long. 2021 to 2028. The new TWS earbuds can connect to both PCs and cellphones at the same time. Customers that are using video banking alternatives could save time and money. The global video conferencing market as a whole is expected to reach 9.95 billion in value by 2028 with a CAGR of 11.4% according to market prospects. Furthermore, due to the closure of office spaces, employees have started working from home and are utilizing these products & solutions to conduct discussions & run daily operations. The report is assembled to comprise qualitative and quantitative elements of Video Conferencing industry including: market share, market size (value and volume 2017-2021, and forecast to 2030) that . Under this collaboration, Avaya integrates the powerful cloud AI solutions from NVIDIA to boost the impact & value of audible, visual & collaborative experiences via the Avaya Spaces app. Key players operating in the industry include Google Inc., Adobe Systems Inc., Avaya Inc., BlueJeans Network, Cisco Systems Inc., LogMeIn Inc., Citrix Systems, Inc., Fuze Inc., Highfive, Microsoft Corporation, Premiere Global Services Inc., Huawei Technologies Co., Ltd., KOLLECTIVE, Lifesize Inc., MediaPlatform, Pexip, Polycom Inc., ReadyTalk, uStudio Inc., Zoom Video Communication Inc., Vbrick, and Vidyo Inc. Nov-2020: Huawei unveiled its global video conferencing solution, Huawei Cloud Meeting in the Asia Pacific region. Global Enterprise Video Conferencing Market Size, Forecast, and Trend Highlights Over 2023 - 2035. The North America region accounted 40% market share in 2021 and will lead the global video conferencing market in the near future. The global video conferencing market was valued at ~ US$ 6 Bn in 2019 and is expected to expand at a CAGR of ~ 9% from 2020 to 2030, reaching US$ ~ 16 Bn by the end of the forecast period According to the report, the global video conferencing market will continue to be influenced by a range of macroeconomic and industry-specific factors. The ease of use of a wide range of collaboration between stakeholders solutions and services has aided growth. New Jersey, United States - The Video Conferencing Market is researched with great precision and in a comprehensive manner to help you identify hidden opportunities and become informed about unpredictable challenges in the industry. Special Offering: Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support. The market is projected to grow from USD 6.87 billion in 2022 to USD 14.58 billion by 2029, exhibiting a CAGR of 11.3% during the forecast period. Research, Media Furthermore, continuous technical breakthroughs in the fields of augmented reality and the Internet of Things (IoT) also hastened the creation of sophisticated equipment, which is likely to boost category expansion even further. Over the projection timeframe, the cloud deployment sector is expected to increase at a considerable pace of roughly 14.5%. Which region will lead the global video conferencing market? In U.S. video conferencing market, the small room application segment accounted 40% market share in 2021. The enhancement in technology will increase the feasibility of digital services, driving the regional market expansion. Global Video Conferencing In Healthcare Market size is expected to reach US$ 709.16 Mn. These features and additional functionality to their key video communications solution assist customers to connect and collaborate effortlessly across the video at the time these trying times. Consequently, a . Video conferencing solutions are being adopted by businesses all over the world to enhance their client interaction, brand awareness, and marketing initiatives. Base Year. In respect of deployment, the on-premise segment held the largest market in 2021, contributing for around 60% of total revenues. Which Countries Data is Covered in the Video Conferencing Market? Europe: +44-742-759-8484 2022. What will be the CAGR of global video conferencing market? The global video conferencing market size is projected to grow to USD 22.5 billion by 2026. analysis reports for any of your Video Conferencing market size was valued at USD 5.78 billion by 2020, growing with 8.9% CAGR during the forecast period, 2021-2030. The global video conferencing market size is projected to register a CAGR of 12.6% during the forecast period, reaching 19.1 Billion by 2027 from an estimated USD 10.6 billion in 2022. It is designed for a flexible and hybrid workforce, the robust and intuitive RingCentral Rooms service would be built into the easy Poly Studio X all-in-one video bars. In addition, the rise in adoption of the Internet of Things (IoT), enabling the robust incorporation of hardware with cloud-based software solutions and other key technologies, such as artificial intelligence and facial recognition, are the few factors that boost the market growth. The global video conferencing market size is expected to reach USD 9.95 billion by 2028 with a CAGR of 11.4% over the forecast period. 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